Navitas Semiconductor (NASDAQ:NVTS) Stock Gets Price Target Cut from Needham & Company LLC

Navitas Semiconductor (NASDAQ:NVTS) had its target price lowered by equities researchers at Needham & Company LLC from $21.00 to $15.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC‘s price objective suggests a potential upside of 75.23% from the company’s previous close.

NVTS has been the topic of several other research reports. Jefferies Financial Group set a $13.00 price target on shares of Navitas Semiconductor in a research report on Tuesday, July 28th. Craig Hallum raised Navitas Semiconductor from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research note on Wednesday. Rosenblatt Securities raised Navitas Semiconductor from a “neutral” rating to a “buy” rating and set a $13.00 target price for the company in a report on Wednesday. Morgan Stanley reiterated an “underweight” rating and issued a $12.60 price target on shares of Navitas Semiconductor in a research report on Tuesday, July 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Monday, September 14th. Four research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, Navitas Semiconductor currently has an average rating of “Hold” and an average price target of $14.43.

Navitas Semiconductor Stock Up 7.9%

NASDAQ:NVTS opened at $8.56 on Wednesday. The business’s 50-day moving average price is $10.73 and its 200 day moving average price is $13.23. Navitas Semiconductor has a 52-week low of $6.85 and a 52-week high of $34.17.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Navitas Semiconductor had a negative net margin of 856.85% and a negative return on equity of 13.13%. The company had revenue of $13.99 million during the quarter, compared to the consensus estimate of $13.42 million. During the same period in the prior year, the company earned ($0.05) EPS. Navitas Semiconductor’s revenue was up 38.4% on a year-over-year basis. On average, equities analysts expect that Navitas Semiconductor will post -0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Navitas Semiconductor

Large investors have recently added to or reduced their stakes in the stock. Rakuten Securities Inc. bought a new stake in Navitas Semiconductor during the 2nd quarter valued at approximately $27,000. Root Financial Partners LLC bought a new stake in Navitas Semiconductor in the 3rd quarter valued at $27,000. Beaird Harris Wealth Management LLC boosted its position in shares of Navitas Semiconductor by 247.8% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company’s stock valued at $31,000 after acquiring an additional 1,239 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Navitas Semiconductor by 3,200.0% during the first quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock worth $36,000 after purchasing an additional 4,000 shares during the period. Finally, State of Wyoming boosted its holdings in Navitas Semiconductor by 92.8% during the first quarter. State of Wyoming now owns 4,803 shares of the company’s stock valued at $42,000 after purchasing an additional 2,312 shares in the last quarter. Institutional investors own 46.14% of the company’s stock.

Trending Headlines about Navitas Semiconductor

Here are the key news stories impacting Navitas Semiconductor this week:

• Positive Sentiment: Navitas reported a third-quarter loss of $0.03 per share, narrower than analysts’ expected $0.04 loss and the $0.05 loss a year earlier. Revenue of $13.99 million topped the $13.42 million consensus and rose 38% year over year. Zacks earnings article
• Positive Sentiment: Management expects another quarter of double-digit sequential revenue growth in Q4, which would make it the company’s highest quarterly revenue in seven quarters. Gross margins also continued to expand. Third-quarter results and outlook
• Positive Sentiment: AI data centers and grid and energy infrastructure are driving growth and backlog. Navitas expects these markets to exceed 40% of sales by year-end; high-power-market revenue is projected to grow 125% for the year, supporting the company’s pivot toward these markets. Third-quarter results and outlook
• Neutral Sentiment: Despite the improving results, Navitas remains loss-making. Its Q4 outlook implies full-year revenue growth of about 7%, as gains in high-power markets are partly offset by its exit from mobile and low-end consumer business. Third-quarter results and outlook

Navitas Semiconductor Company Profile

Navitas Semiconductor Corporation (NASDAQ:NVTS) develops power semiconductor technologies designed to improve the efficiency, performance and size of electronic systems. The company specializes in gallium nitride (GaN) power integrated circuits and silicon carbide (SiC) devices, which are used to convert and manage electrical power.

Its product portfolio includes GaNFast power ICs, GeneSiC silicon carbide products and related power-management solutions. These technologies are used in applications such as mobile and consumer chargers, data centers, solar inverters, electric vehicles, energy storage systems, appliances and industrial equipment.

Founded in 2014, Navitas serves customers and markets globally through its semiconductor products and engineering support.